In Person
Building up and moving on
David Young has made it his business to make Watermark Products profitable and energised. His promotion to president and ceo says it all. Jo Austin asks David to discuss his role
Congratulations David on your promotion. What does your new role entail ? I am excited because after a number of tough years rebuilding the Watermark
business I am able to focus a lot more of my time on my true passion, developing and enhancing strategic relationships with both our customers and our supply partners. The role is really about growing Watermark Products as a diversified creative products business and increasing sales.
You mentioned a rebuilding programme. How has that gone and how did you fare in 2011? I am sure many in the industry will know that when I took over as md of Watermark the business was not in a great state. Declining sales and overheads which were too high for the business to sustain had overtaken a company that had been an industry leader for many years. Over the last three years we have taken some hard decisions, significantly reducing headcount and operating costs, refocusing our efforts in areas in which we are strong and moving away from those where we have no competitive advantage. We invested in people who add value to the business and opened new offices in places like Sydney to be part of the world’s strong and growing economies. Our 2011 results are set to demonstrate a significant turnaround in our fortunes, reflecting the team’s hard work.
What is the outlook for the industry and Watermark in 2012 and beyond? I think that opportunities will continue to emerge in new sectors and geographical locations. Europe will probably struggle but we see positive growth signs in the US, Asia and, of course, the Middle East powerhouse continues. Watermark is entering 2012 in a strong position. We are looking to add to our team in the UK and America and the Sydney office is performing well. I think that the broader travel industry will create both opportunities and risks as we
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www.onboardhospitality.com The Burj Khalifa is a the ultimate emblem of growth in the Middle East
all compete for a broader market share against emerging competitors from other sectors. The dynamics of the industry have shifted,
with the changes to ITCA and the emergence of the World Travel Catering and OnBoard Services Expo. The way we interact with customers will also need to change. But in reality you still can’t go past face-to-face contact, which in many ways is what makes our industry such fun!
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LSG claims to be the only in-flight caterer in Europe with specialist equipment with the height to reach the Airbus A380’s upper deck.
50 ISSUES
Onboard Hospitality Issue 22, June ‘06 C E L E B R A T I N G
©DTCM
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